2011 Annual Financial Statements
25 January 2012
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To provide members with the best possible benefits with maximum returns on investments through excellent management of the financial contributions of municipalities and members.
The MCPF was established on the 1st May 1988 in terms of the Pension Benefits for Local Authorities Act 105, 1987 as the only Fund to service the retirement needs of Municipal Councillors. It was originally a defined benefit fund but has since the 1 December 2000 been restructured to a Defined Contribution Pension Fund.
The Fund is associated with almost all 283 Municipalities in the 9 Provinces of South Africa and enjoys an advantage of being Managed by its members elected from among themselves in the 9 Provinces.
Municipal Councillor’s should join the Fund for purposes of getting benefits when they are no longer Councillors. It offers a range of benefits that are beneficial to both the member and their families.
Members must download the new member form from the website and complete it when they join the Fund and submit the form to your Human Resourse Department for processing as well as to the Fund Administrators. You will then qualify for full benefits from the 1st day upon indicating your option to join the Fund, even though your contribution will only be paid at the end of that month.
The Fund encourages its members to make sure that their tax matters are up to date as we always need a tax directive from SARS when your term ends; when members are re-deployed; not voted for office at the end of their term or when they resign as Councillors.
We comply with all legislation and laws of our Country and all Authorities that Govern the Financial institutions and the Pension Funds Act (No.24 of 1956)
We hope to hear from you very soon and take note that your association with the Fund is highly appreciated and we promise to serving you in your best interest and always focusing in the growth that your Investment must generate for you. You are welcome to the Fund.